This presentation will discuss cost analysis and budgeting from a safety management perspective, explain the mechanics of the budgeting process, identify methods of loss control, and point out simple approaches to cost determination. The time value of money will be discussed along with how to run simple calculations. The expected value technique of ranking priorities will also be addressed and explained. Printed tables will be provided to help attendees run simple calculations. This presentation will begin with simple qualitative methods of evaluating risk and conclude with easy methods to quantify loss exposures.
Instructors: Mark A. Friend, Ed.D., CSP, Embry-Riddle Aeronautical University, Daytona Beach, FL
Level: I A E